AQR Capital Management LLC increased its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,706 shares of the specialty retailer’s stock after buying an additional 93 shares during the period. AQR Capital Management LLC owned approximately 0.07% of Nordstrom worth $5,295,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in JWN. BlackRock Inc. boosted its stake in Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock worth $373,537,000 after buying an additional 7,689,800 shares during the period. Bank of New York Mellon Corp boosted its stake in Nordstrom by 20.9% in the first quarter. Bank of New York Mellon Corp now owns 7,896,754 shares of the specialty retailer’s stock worth $367,753,000 after buying an additional 1,364,328 shares during the period. State Street Corp boosted its position in Nordstrom by 2.6% in the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock valued at $294,822,000 after buying an additional 160,947 shares during the last quarter. Morgan Stanley boosted its position in Nordstrom by 9.8% in the first quarter. Morgan Stanley now owns 3,495,790 shares of the specialty retailer’s stock valued at $162,799,000 after buying an additional 311,529 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Nordstrom by 26.5% in the first quarter. Wells Fargo & Company MN now owns 1,376,015 shares of the specialty retailer’s stock valued at $64,082,000 after buying an additional 288,487 shares during the last quarter. 64.36% of the stock is owned by institutional investors.
Shares of Nordstrom, Inc. (NYSE JWN) traded up 0.07% during midday trading on Friday, reaching $44.90. The company’s stock had a trading volume of 6,547,721 shares. The company has a market capitalization of $7.46 billion, a P/E ratio of 21.02 and a beta of 0.83. Nordstrom, Inc. has a 12-month low of $39.53 and a 12-month high of $62.82. The company’s 50-day moving average price is $47.39 and its 200 day moving average price is $45.51.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a net margin of 2.51% and a return on equity of 69.16%. Nordstrom’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. On average, equities research analysts forecast that Nordstrom, Inc. will post $2.96 earnings per share for the current year.
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Several research analysts have weighed in on the company. Citigroup Inc. lowered their price objective on Nordstrom from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, May 12th. Zacks Investment Research cut Nordstrom from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Cowen and Company reiterated an “outperform” rating and set a $49.00 price objective on shares of Nordstrom in a research report on Friday, June 9th. Northcoast Research reiterated a “neutral” rating on shares of Nordstrom in a research report on Tuesday, May 16th. Finally, Maxim Group set a $61.00 target price on Nordstrom and gave the stock a “buy” rating in a report on Thursday, May 4th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $47.34.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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